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Toople PLC (TOOP)

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Monday 12 October, 2020

Toople PLC

New Contract Wins

RNS Number : 7107B
Toople PLC
12 October 2020
 

Strictly embargoed for 07.00: 12 October 2020

 

Toople PLC

("Toople" or the "Company" or the "Group")

 

New Contract Wins

 

Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is delighted to announce two new contract wins, both of which are providing new IP cloud based services driven by the roll-out of next generation telecoms infrastructure in the UK.

 

Toople has been chosen by a leading global investment management and advisory business based in central London, and offices around the world to facilitate a move away from their traditional telephony infrastructure to DMSL's IP cloud based next generation platform.  The contract, which is for three years, will provide services for their employees to have more freedom and accessibility from any location.  The platform supports access via an app to desktop, laptop, tablet, and mobile phone.  Additionally, the business has contracted to a dedicated high speed internet connection to its London headquarters, also for a three-year period.

 

Separately, DMSL has won the contract to provide services to a large property management, and sales and letting business based in the East of England.  The real estate agency has multiple offices across the region and has signed a five year contract through DMSL for the delivery of IP cloud based telephony in all their locations.  These two new contracts are further evidence of continued growth in DMSL's core business, and are expected to accelerate the anticipated timeline to the Group achieving positive cash generation and profitability.

 

DMSL, which acts as a BT Premier reseller, continues to work with network providers including EE, O2 and TalkTalk Business, and has multiple revenue streams delivering upfront cash and recurring revenue.

 

Andy Hollingworth, CEO of Toople, commented:

 

"Openreach is building full-fibre to the premises (FTTP) to more than 4.5 million premises by the end of March 2021 and more than 20 million in the late 2020's.  This, and the impact of the Coronavirus, is driving the need for better remote connectivity and unified communications solutions for Toople and its Group companies.  As full-fibre availability in the UK grows exponentially, our suite of services support the transition to a full-fibre future and as the availability of fibre increases, so too will the number of new and expanded contracts for Toople.

 

"Not only is Toople perfectly placed to take advantage of the macro drivers in telecoms, but it is also capable of providing small and medium sized businesses with simple, fixed fee contracts, allowing their employees and staff to work from home or their offices as the world settles into a new reality where employees can work from anywhere but must remain seamlessly connected to their colleagues and clients.  In light of societal changes to working practices, and technical upgrades to the UK's communications infrastructure, the long term outlook for Toople is bright."

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For further information :

 

Toople PLC

Andy Hollingworth, Chief Executive Officer

Paul White, Chief Financial Officer

 

Tel: 0800 0499 499

Novum Securities Limited

David Coffman

 

Tel: 020 7399 9400

Belvedere Communications

John West / Llew Angus

 

Tel: 020 3687 2756

 

About Toople PLC

 

Toople PLC is incorporated in the UK and listed on the main market of the London Stock Exchange. 

 

The business currently trades under four main brands:  www.toople.com www.dmsluk.co.uk broadbandandphones.co.uk www.checkthatcompany.co.uk .

 

Toople.com  provides bespoke telecoms services for its fast growing target market of UK SMEs with between one and 500 employees.  Services offered by the Group include business broadband, fibre, EFM and Ethernet data services, business mobile phones, cloud PBX and SIP Trunking and Traditional Services (calls and lines) all of which are delivered and managed via the Group's proprietary software platform. 

 

In February 2020, Toople completed the acquisition of  DMS Holding (DMSL) .  DMSL commenced trading in 2002 and provides unified communication services in the UK, ranging from a single phone line to a multi-site unified comms VoIP platform, delivered via a network of telecoms and IT carriers and content providers across the UK including BT Business, BT Global Services, Gamma, EE, Vonage, TalkTalk Business and O2.

 

DMSL acts as a BT Premier re-seller for broadband connectivity, mobile and fixed voice and cloud services and is responsible for over 250,000 BT customers and over 400,000 Revenue Generating Units.

 

The acquisition of DMSL was transformational for Toople, as it also expanded the Group's reach into the UK residential market, which is experiencing a period of rapid change, as operational automation further develops and more people choose to (or are forced to) work from home.

 

The Company also owns a telecoms price comparison website and a service offering company credit reference checking and reports.  These complement the Group's IT and telecoms services.

 

All the Group brands seek to differentiate themselves by offering IT, telecoms and broadband solutions, with robust and reliable packages, that enhance a customers' business and are based on trust and transparency, with no hidden fees within pricing policies.  This provides customers with a clear understanding of cost and fixed prices for the duration of their contracts.

 

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